Ann: Trading Halt, page-133

@manny100 I was highly satisfied with Simon’s responses to the tough and direct questions. He was candid, transparent, and incredibly generous with his time. While I won't be sharing the extensive 3-page notes from our discussion out of respect for his wishes, I do encourage everyone to understand the delicate nature of the current situation. Leo Lithium and Ganfeng are engaged in ongoing discussions with the government, and it's crucial not to exacerbate any issues by sharing information online.

We're also witnessing heightened activity on our forums from non-holders, so it's prudent to exercise caution. Simon is more than willing to communicate directly with investors, so feel free to reach out if you have sensible questions and form your own judgment.

That being said, I will share a few key points. Assuming no unforeseen events, I have complete confidence that the company is diligently addressing everything within its control. This goes beyond their existing efforts, such as actively engaging with institutional investors, refining their investor relations program, and liaising with government officials at various levels.

In relation to the recent PayDirtTV interview, Ganfeng originally offered $106 million three months ago. Despite subsequent negotiations, the final deal, including the valuation, remained effectively unchanged. Remarkably, during this period, lithium equities and chemical prices dropped by more than 25%. Many other partners would have sought to renegotiate the terms, but Ganfeng did not. They demonstrated unwavering commitment to the partnership.

As @nicwix mentioned, it’s important to highlight that Ganfeng's decision to invest US$137 million was made while actively participating in all discussions with the Mali Government. Furthermore, the upgraded minority shareholder provisions safeguard Leo Lithium's interests in major decisions, ensuring stability.

Leo Lithium also stands to gain significantly from this partnership. The company now has the potential for additional businesses beyond Goulamina, including a joint venture on exploration (recently announced), the potential for a conversion business in the local region, and a well-established offtake plan spanning stages 2 and 3. While the company could have raised additional capital elsewhere, it very likely would have come at a higher cost, involving a more substantial portion of the project and foregoing the cooperation agreement. Criticizing the terms of this deal or questioning Ganfeng's intentions in this partnership is, therefore, short-sighted.

As Joe Lowry put it, Ganfeng "has always been reasonable with their partners" "Ganfeng has never done a resource project" "Ganfeng has been really good with partnerships" "Ganfeng needs [Leo Lithium] to succeed and they will not be the ones to affect that success. It's going to be Simon and his guys".

In that regard, I don’t believe Ganfeng gets enough credit for being a great partner. Leo Lithium, too, should be commended for achieving such a deal despite the challenges. Leo Lithium has been able to successfully maintain valuation while a sovereign issue has been raised and they’ve been suspended for a long period of time. It’s an outstanding achievement.

Lastly, with regard to the company's relationship with the Mali Government, Leo Lithium has established connections at the highest levels, even in light of recent changes in government officials. Maintaining positive government relations remains a top priority. Ministry changes, regime changes, but the Project won’t change. Leo Lithium will operate through the political cycle, as many others have successfully done in Mali's mining sector over the last two decades.